First Brands Group Launches Marketing & Sale Process

First Brands Group LLC, a global supplier of aftermarket automotive parts, announced the launch of a sale process to market and sell its business, as a whole or in parts, to maximize stakeholder value. The sale process is intended to accelerate the transition to new ownership, the company’s emergence from these Chapter 11 cases, and the next phase for First Brand’s market-leading portfolio of brands and businesses, company officials stated in a press release.

The company says that it is also in discussions with an Ad Hoc Group of lenders (the “Ad Hoc Group”) regarding an agreement to provide additional debtor-in-possession (“DIP”) financing and serve as the stalking horse bidder for certain business segments in the sale process. Once finalized and upon court approval, the expected funding would enable First Brands to maintain continuity of supply and service for customers across its core brands and product lines through the sale process.

“Launching the marketing process represents a decisive step toward positioning our brands for long-term stability under new ownership,” said Charles Moore, interim chief executive officer of First Brands Group. “Over the past several months, we have gained clarity on the significant value across the First Brands portfolio and the strong growth potential of our core business lines in the aftermarket industry. With the continued support of our lenders and meaningful inbound interest, this process will enable us to efficiently explore a range of strategic outcomes while prioritizing our customers, vendors and employees.”

The company states that its differentiated portfolio of leading aftermarket brands and OEM products provides a compelling foundation for significant value creation.

• A global offering of mission-critical automotive products and parts spanning brakes, filters, plugs, wipers, pumps, lighting, towing and accessories.
• A portfolio of top-tier, leading brands, including FRAM, Raybestos, Trico, Autolite, and Reese, each with longstanding customer relationships across retail and commercial channels.
• A strategic global manufacturing and distribution footprint, supported by enhanced financial and operational practices implemented by the company’s new management team during its ongoing Chapter 11 proceedings.
• Strong brand recognition in the $410 billion North American automotive aftermarket sector, with meaningful opportunities to capitalize on long-term demand trends and industry tailwinds.

Additional Information About the Sale Process

First Brands anticipates filing a motion seeking authorization to conduct a sale and marketing process for all of its assets. The sale process is designed to achieve the highest or otherwise best bid for the assets pursuant to section 363 of the U.S. Bankruptcy Code. The Company expects to market the business in an efficient and timely manner with the intention to complete the process in the first quarter of 2026, subject to court approval.

Additional information regarding First Brands’ Chapter 11 process is available at https://restructuring.ra.kroll.com/firstbrands. Stakeholders with questions may call the company’s claims agent, Kroll, at (877) 631-1151 or +1 (646) 290-7146 if calling from outside the U.S. or Canada, or email firstbrandsinfo@ra.kroll.com.

Advisors

Weil, Gotshal and Manges LLP is serving as legal counsel, Lazard is serving as investment banker, Alvarez & Marsal is serving as financial advisor, and C Street Advisory Group is serving as strategic communications advisor to First Brands Group. Gibson, Dunn & Crutcher LLP is serving as legal counsel, Evercore is serving as investment banker, and Huron Consulting Group is serving as financial advisor to the Ad Hoc Group.